[KHTS] -Film director Dror Soref was arrested at his Santa Clarita home Friday for allegedly running a multimillion dollar ponzi scheme.
Soref, 65, of Santa Clarita, is suspected of violating section 25110 of the state of California Corporations Code and was arrested by officials with the California Department of Insurance, according to a news release.
The California Department of Insurance alleges that Soref worked with former state registered insurance agent Michelle Kenan Seward, 42, of Flintridge, offering to sale securities that did not meet Corporations Code requirements.
The alleged ponzi scheme, is said to have tricked investors in Kern and Los Angeles County out of $21 million dollars, according to the news release.
In some cases, Seward talked clients into surrendering annuities early and paying large penalties by promising returns of between 10 and 18 percent, according to the news release.
Investors that surrendered annuities paid more than $600,000 in penalties and fees for early withdrawal, the news release said.
Soref is an award winning filmmaker who began his career directing parody music videos with “Weird Al” Yankovic, according to his biography on the IMDB website.
Soref was nominated for a Gold Hugo Award at the Chicago International Film Festival for his work directing the short film Platinum Blond, according to IMDB.
Soref is scheduled to appear in court on Sept. 28, and is being held on $2.7 million dollars bail, according to arrest records with the Los Angeles County Sheriff’s Department.
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19 Comments
Omg. I used to invest with Michelle Seward… :(. Back in 1997.
I’m sorry.
She was holding brunches in SCV targeting elders.
2008.
She appeared to be so put together… Luckily we were able to get out of everything she put us in with out losing too much.
She’s cold blooded. Now she’s begging the investors to write a letter to the DA asking to not put her in jail!! I know this firsthand.
We referred other friends to her. They don’t let us forget out our poor advice … :(
Yup. You were lucky.
Sue him…get your money back! Unless you made money then….shhhh!! Lol
There wasn’t much of a return on investment I heard. Criminals.
Awesomeclown!
Lmfao….
I don’t get what you mean?
Ask your kids.
Ohhhh great
You don’t often say “You should’ve stuck to directing movies”
?
Ripping off elders is as low as one can go. Have fun in jail.
Everything Lisa Brewster says and is doing is great.